Comvita pulls out of takeover talks after failing to reach a deal on price; shares drop 7.1%
By Rebecca Howard May 21 (BusinessDesk) - Comvita pulled out of talks with an unnamed third party looking to take over the NZX-listed manuka honey company when it couldn't reach a deal on price. The stock fell 7.1 percent. Last month Comvita said the third party was undert...
NZ 1Q quarterly retail sales up 0.1% as weaker fuel and vehicle sales weigh
By Rebecca Howard May 21 (BusinessDesk) - New Zealand retail sales rose in the March quarter but were lower than expected on weaker fuel and motor vehicle and parts retailing after a biosecurity threat crimped car imports. Retail sales volumes rose 0.1 percent in the March...
SkyCity inks construction contract for Adelaide casino expansion
By Rebecca Howard May 21 (BusinessDesk) - SkyCity Entertainment Group has inked a construction contract with Australian commercial construction company Hansen Yuncken for expansion of its Adelaide Casino. New Zealand's only listed casino company said the contract is a large...
CBL administrators adjourn watershed meeting on voting stalemate
By Rebecca Howard May 18 (BusinessDesk) - CBL Corp's voluntary administrators adjourned a watershed meeting today when it became clear there would be a voting stalemate on whether to put the company into liquidation or hand control back to its directors. Auckland-based CBL...
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